Question

In: Accounting

Evaluate the ways that sustainability can improve firm performance. What are the ways that a company...

Evaluate the ways that sustainability can improve firm performance.

What are the ways that a company can benefit from being more sustainable?

(Please include more than lowering costs/expenses)

Expert Solution

Answer :-

A) ways that sustainability can improve firm performance.

1) Sustainable businesses are able to cut down on energy and waste costs, which will in turn have a positive impact on the bottom line.

2) The sustainability of your business practices can help with recruiting. Sustainability can also help motivate your existing employees.

3) sustainability management aims at improving social aspects along with environmental aspects with regard to worker satisfaction, recruitment and retention, it can lead to reduced intra-firm conflicts between functions or goals of different departments and internal stakeholders.

4) Sustainable business strategy is the integration of economic, environmental, and social aims into a firm's goals, activities, and planning, with the aim of creating long-term value for the firm, its stakeholders, and the wider society.

B) ways that a company can benefit from being more sustainable?

1) following ways from firm can be more sustainable.

a) Optimize your current use of fossil fuels.

b) Eliminate waste.

c) Reduce, or eliminate, pollution.

d) Recycle the waste.

e) Recover energy, don't turn it into heat.

f) Purchase Only Energy Efficient Products.

g) Chemical Management.

Thank you.

ekkarill92 answered 2 years ago

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